During the process of getting your loved one out of jail following an arrest, one of the terms you’ll likely come across is “bail bond premium.” You might be wondering what this is and how it differs from or relates to the bail amount.
In short, the premium is the fee paid to a bail bond agency. It is a fraction of the bail amount and is remitted to secure the company’s services. Although the premium is not refundable, it makes it more affordable to have your loved one released from police custody while awaiting trial.
For help with the bail bonds process in Columbus, please contact Andy Callif Bail Bonds at (614) 945-4334 today.
The Difference Between the Bail Amount and the Bail Bond Premium
The bail amount and bail bond premium are two separate but related concepts. The bail amount is the price a judge sets in a criminal case. Once you pay it, your loved one is released from police custody.
Although your loved one is no longer is jail, their case is still pending, which means they are still required to make court appearances until the matter concludes. Because they are not under direct and constant supervision of a law enforcement agency, the court needs an assurance that your loved one will show up for all required hearings.
The bail bond amount serves as that assurance.
Typically, the price the judge decides on is high (although it can’t be excessive and can’t merely serve as a form of punishment). When the bail amount is paid out of pocket, it’s returned when the case finishes, provided that your loved one does not flee before then. Thus, a high cost is an incentive to see the matter through.
When we say bail amounts are high, we’re talking in the range of a few thousand to hundreds of thousands of dollars. Those prices aren’t accessible to most of us, and trying to pay out of pocket can take a substantial financial toll.
That’s where the bail premium comes in.
If the bail amount is beyond your financial reach, you could forgo paying it. But that would mean that your loved one remains in jail for the duration of their case. Yet, that’s not you’re only option. You can hire a bail bonds agency for help.
The company will charge a premium to post a bond on behalf of your loved one. The bond assures the court that your loved one will make all scheduled appearances. The bail bonds agency will ensure that the total bail amount is paid in full if the individual does not show up for any hearing.
What the Bail Bond Premium Covers
The premium is the cost of the bail bonds agency’s services. When you agree to pay it – whether you remit the entire payment upfront or arrange a payment plan – a bail bonds agent will get started on getting your loved one out of jail.
The agent will prepare the required forms and physically post the bond at the courthouse. They will also be available to answer your questions and help you understand the responsibilities of you and your loved one after release from police custody.
The Premium Is Cheaper Than the Bail Amount
We noted before that bail bond amounts can be thousands of dollars. The premium is only a fraction of that.
A bail bonds agency can charge no more than a 10% premium for its services in Ohio. If your loved one’s bail is set at $15,000, you would pay only $1,500 (plus any applicable fees) to get them out of jail.
The Bail Bond Premium Is Non-Refundable
The bail bonds company earns the premium for providing its services. It covers business-related costs the agency incurred. Therefore, it is not returned at the end of the case, regardless of the outcome (e.g., whether charges were dropped or your loved one was found not guilty).
Some confusion might arise here because questions about whether bail money is returned usually result in a “yes” response.
Let’s clear that up.
At the end of a case, a person can get the bail money back as long as the defendant makes all court appearances. However, the payment refund applies only when the individual pays the bail amount out of their own pocket. It does not pertain to bail premiums.
Reach Out to Andy Callif Bail Bonds Today
Our Columbus team is here to help you understand the bail bonds process. We will work diligently to get your loved one out of police custody as soon as possible.
For assistance from an experienced agent, please call us at (614) 945-4334 or contact us online today.